Africa: 14 business ideas with strong profit potential

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Business ideas africa

Postby Arashishakar В» 28.11.2019

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Are there business ideas in Africa that investors and budding entrepreneurs can take advantage of? Africa is a growing continent that has great potential and natural resources. Because there are many business opportunities in Africa , most entrepreneurs are now venturing into the continent. They take this opportunity not only to gain money but also to improve the lives of the people in that region. To be a successful entrepreneur in Africa, you have to look beyond the resources the continent offers, the Gold, Diamond, Copper, Oil, Timber and many other resources.

This will not only earn you money and make your business successful. It also helps to create value and touch the lives of the people in Africa. Before you start any business venture, you need to consider which country is best for business in Africa?

In this article, we will look at the top 20 business opportunities that an entrepreneur can pursue and become successful in Africa ;. There are huge business opportunities for African youth graduates in the field of Agriculture and Agribusiness. Studies have shown that agribusiness plays an enormous role in economic development.

It contributes to a more significant portion of GDP, foreign exchange earnings, as well as employment opportunities in many developing countries. This makes it a massive opportunity for entrepreneurs who want to invest in Africa and especially in the field of agriculture. Africa imports most of her food yet most parts of the continent has favorable conditions for farming. Farming in Africa is practiced on a small scale by poor farmers who have no access to modern farming methods and no capital to improve their agriculture.

Investing in farming in Africa will not only earn you money but also create job opportunities for the locals as well as increase food production.

Africa is experiencing a high rate of rural to urban migration. The price for rent is so high that most governments in the African countries are not able to construct enough affordable housing for their citizens. Rapid urbanization is pushing up demand for housing in Africa: A study by the World Bank indicates.

Each day, the various African cities become new homes to over 40, people, the majority of whom cannot find a roof over their heads. The majority of housing investment in most African countries currently comes from government investment or domestic savings rather than finance obtained through international capital markets as is the case in developed economies. The data below shows the price and size of the least expensive newly built house by a formal, private developer in select countries.

With the Sub-Sahara Africa generating nearly 4. Kenya and Nigeria are key among the many African countries in high demand for housing. The very high demand is only being met by a very scanty supply, making housing in these areas one of the best business ideas in Africa. The high demand for housing leaves significant gaps that can be filled by entrepreneurs. Mortgage, cement production and building contractors are the business opportunities that can be explored by entrepreneurs.

With the rising need for better housing in urban regions, furniture is a major element of housing. The furniture business has been making tremendous progress in design and quality from Nigeria to Uganda and across other countries in Africa. This is expected to give an annual growth rate of The furniture business never runs out of fashion. The figure below shows the distribution of the consumption of furniture produced in Africa around the globe.

The urbanization process is expected to be very rapid, particularly in Sub Saharan Africa and large urban areas will be the engine of economic growth with important implications for the increase in furniture consumption.

In recent years, huge investments have been made in real estate , tourism and hospitality industry, culture and entertainment, which have boosted demand for the furniture sector. Starting businesses that make affordable furniture and interior design will grow into a successful business in Africa. Africa is experiencing a major deterioration in the quality of education in public schools. This is due to corruption, poor education, funding, and an increased population.

As a result, to ensure children get a better education, most parents in Africa are opting for private schools. Establishing a private school is one of the business ideas in Africa that some entrepreneurs have already taken advantage of, and they are making a good return on their investments.

There has been no progress when it comes to reducing the global numbers of the out-of-school children even after years of adoption of the Sustainable Development Goal 4 SDG 4.

The total tertiary enrollment was 3 million students. The combination of investment and advisory services has been very effective in meeting the demand, including low-income families. In Ghana , many parents are sending their children to private schools as an escape from poverty. Governments are relying increasingly on the private sector to help fulfill public policy objectives in education. As an entrepreneur, I will advise you to utilize this business opportunity in Africa.

This will help to promote accessibility to better education in Africa. Africa is facing a significant challenge in the health sector. Public hospitals are poorly funded, and most doctors from the continent move to other developed continents. The region faces a critical challenge of creating the foundations for long-term inclusive growth.

Malnutrition is far too common, and most health systems are not able to deal effectively with epidemics and the growing burden of chronic diseases, such as diabetes. This leaves Africa at a deplorable state regarding health facilities. With the rapidly growing population and significant cases of diseases, an opportunity arises for entrepreneurs to provide affordable health to Africans.

Recommended reading : Business Ideas in Botswana. For a very long period of time, Africa has been facing major problems related to waste. In most African countries, waste is burned, openly disposed or buried. To avoid an environmental crisis in the future, an entrepreneur can venture into a waste recycling business and create useful products for resale.

As more people continually move to the cities, there is a need to increase urban transportation. Poor infrastructure, inefficiencies, and congestion torment Urban dwellers as they commute within the city. Introducing efficient, comfortable and affordable modes of transport is a huge gap for the African nations that can earn entrepreneurs millions of money.

There is no doubt that urban transportation is one of the huge business ideas in Africa. An example of this mode of transport is Uber. But before you start, try to identify which country is best for this business. Drones in Africa, are mostly used to track terrorists and take good professional photographs. However, drone technology is being used in the African continent to enhance farming and to deliver humanitarian aid.

No wonder Kenya and Ghana have subscribed to the Zipline Drone Technology to help develop their health sectors. Africa exports a few local commodities that they produce. However, they export a lot more items both non-food and food.

Entrepreneurs are now venturing into the exportation of products produced locally in Africa. They are making global brands from items that Africa is not exporting at the moment. Find out the Crate and Barrel Return Policy. Most people in Africa have entrepreneurship skills but lack capital to implement their business ideas. Investors are now venturing into this market by providing capital to upcoming entrepreneurs in Africa.

Fin-tech is the technology that helps people to use technology to access financial and banking services. In Africa, most people have no access to financial services whereas a chunk of the population still uses cash. Recommended reading : Personal training and Fitness business ideas. This provides an excellent ground to explore the movie industry in Africa.

The young people are creative and talented. There are movies produced in Africa and made a big hit globally. Most of Africans depend on second-hand clothes from the western nations. Starting up a local fashion industry will create job opportunities for the locals. Vanessa Mounger, in the next ten 10 years, the Fashion industry is expected to double globally. The statistics look great but always find out for which country is best for this business in Africa?

When you take the fashion business in Africa, Nigeria and South Africa are leading the market. However, in terms of textile and apparel export, the top countries are Kenya, Ethiopia, Mauritius, and Lesotho. The fashion industry market will attract a big population of middle-class citizens. Read more about how people are using the Mitumba as great business ideas in Kenya. The betting industry is regarded as a controversial topic in most African countries.

Yet, it is one of the easy business ideas in Africa for young entrepreneurs. Furthermore, sports betting in Africa is making millions of money. Many young people are enthusiastic about sports making the betting industry market promising. Most people in Africa have limited access to electricity, and many of them depend on firewood and charcoal for domestic use. This endangers the depleting forest cover in Africa. Entrepreneurs can venture in the business of providing renewable energy to the wide market at an affordable price.

Rural-urban migration in Africa has resulted in congestion in big cities. This creates inconveniences and moving around the city can be a frustrating mission. However, there are few entrepreneurs who are filling the gap by offering services of house-to-house delivery.

This saves people time and energy to move around shopping. Recommended reading : Zip codes and Postal codes: What you need to know. As urban transportation continues to become a nightmare to many African residents, most people in Africa are now getting their modes of transport.

Top 16 Business Ideas You Can Start In Africa With $500 or Less, best business ideas in africa,, time: 12:18
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Re: business ideas africa

Postby Kazram В» 28.11.2019

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Postby Shaktirg В» 28.11.2019

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Postby Fenrigrel В» 28.11.2019

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Postby Kakus В» 28.11.2019

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Postby Malara В» 28.11.2019

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Postby Domuro В» 28.11.2019

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Re: business ideas africa

Postby Brabar В» 28.11.2019

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Postby Gardashura В» 28.11.2019

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Postby Kilmaran В» 28.11.2019

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Postby Kazrajin В» 28.11.2019

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Postby Meshicage В» 28.11.2019

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Postby Tojarn В» 28.11.2019

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Postby Meztit В» 28.11.2019

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Postby Vudokazahn В» 28.11.2019

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Postby Nikosar В» 28.11.2019

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Postby Mill В» 28.11.2019

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Postby Kajisida В» 28.11.2019

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Postby Akinodal В» 28.11.2019

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Postby Akikora В» 28.11.2019

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Postby Dishakar В» 28.11.2019

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Postby Malatilar В» 28.11.2019

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Postby Taramar В» 28.11.2019

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Postby Shakajas В» 28.11.2019

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Postby Kigajar В» 28.11.2019

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